The BEA Wire | BEA's Official Blog
Outdoor Recreation Satellite Account, U.S. and States, 2020
The new U.S. data show that the outdoor recreation economy accounted for 1.8 percent ($374.3 billion) of current-dollar gross domestic product for the nation in 2020. At the state level, outdoor recreation value added as a share of state GDP ranged from 4.3 percent in Montana to 1.2 percent in New York and Connecticut. The share was 0.8 percent in the District of Columbia. Outdoor recreation estimates were impacted by the response to the…
September 2021 Trade Gap is $80.9 Billion
The U.S. monthly international trade deficit increased in September 2021 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $72.8 billion in August (revised) to $80.9 billion in September, as imports increased and exports decreased. The previously published August deficit was $73.3 billion. The goods deficit increased $8.9 billion in September to $98.2 billion. The services surplus…
Personal Income and Outlays, September 2021
Personal income decreased$216.2 billion, or 1.0 percent at a monthly rate, while consumer spending increased$93.4 billion, or 0.6 percent, in September. The decrease in personal income primarily reflected the winding down of pandemic-related assistance programs. The personal saving rate (that is, personal saving as a percentage of disposable personal income) was 7.5 percent in September, compared with 9.2 percent in August.
Gross Domestic Product, Third Quarter 2021
Real gross domestic product (GDP) increased at an annual rate of 2.0 percent in the third quarter of 2021, following an increase of 6.7 percent in the second quarter. The deceleration in real GDP in the third quarter was led by a slowdown in consumer spending. A resurgence of COVID-19 cases resulted in new restrictions and delays in the reopening of establishments in some parts of the country. In the third quarter, government assistance…
Personal Consumption Expenditures by State, 2020
State personal consumption expenditures (PCE) decreased 2.6 percent in 2020 after increasing 3.7 percent in 2019. The percent change in PCE across all 50 states and the District of Columbia ranged from 1.2 percent in Idaho and Utah to –5.8 percent in the District of Columbia. The PCE by state estimates were impacted by the response to the spread of COVID-19, as governments issued and lifted "stay-at-home" orders. This led to rapid changes in…
August 2021 Trade Gap is $73.3 Billion
The U.S. monthly international trade deficit increased in August 2021 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $70.3 billion in July (revised) to $73.3 billion in August, as imports increased more than exports. The previously published July deficit was $70.1 billion. The goods deficit increased $1.6 billion in August to $89.4 billion. The services surplus decreased $1.4 billion…
Gross Domestic Product by State, 2nd Quarter 2021
Real gross domestic product (GDP) increased in all 50 states and the District of Columbia in the second quarter of 2021, as real GDP for the nation increased at an annual rate of 6.7 percent. The percent change in real GDP in the second quarter ranged from 9.7 percent in Nevada to 1.8 percent in Alaska.
Personal Income and Outlays, August 2021
Personal income increased $35.5 billion, or 0.2 percent at a monthly rate, while consumer spending increased $130.5 billion, or 0.8 percent, in August. The increase in personal income primarily reflected increases in compensation as well as government social benefits, which reflect advance Child Tax Credit payments authorized by the American Rescue Plan. In addition to presenting estimates for August 2021, these highlights provide comparisons…
Gross Domestic Product (Third Estimate), Corporate Profits (Revised Estimate), and GDP by Industry, Second Quarter 2021
Real gross domestic product (GDP) increased at an annual rate of 6.7 percent in the second quarter of 2021, reflecting the continued economic recovery, reopening of establishments, and continued government response related to the COVID-19 pandemic. The increase was revised up 0.1 percentage point from the “second” estimate released in August. In the second quarter, government assistance payments in the form of loans to businesses and grants…
U.S. International Investment Position Second Quarter 2021
The U.S. net international investment position, the difference between U.S. residents’ foreign financial assets and liabilities, was –$15.42 trillion at the end of the second quarter of 2021, according to statistics released by the U.S. Bureau of Economic Analysis. Assets totaled $34.20 trillion and liabilities were $49.62 trillion. At the end of the first quarter, the net investment position was –$14.30 trillion.
Gross Domestic Product for Puerto Rico, 2019
Real gross domestic product increased 0.3 percent in 2019 after decreasing 2.4 percent in 2018, according to estimates released today by the Bureau of Economic Analysis. The statistics released today are BEA’s first official release of GDP for Puerto Rico. The release includes updated estimates for 2012 to 2018 that incorporate new and additional source data and methodology improvements to the prototype GDP statistics that were released in…
Personal Income by State, 2nd Quarter 2021
State personal income decreased 21.8 percent at an annual rate in the second quarter of 2021 after increasing 56.9 percent in the first quarter. In the second quarter of 2021, the decrease in transfer receipts was the leading contributor to personal income declines in all 50 states and the District of Columbia. The percent change in personal income across all states ranged from –10.1 percent in the District of Columbia to –34.0 percent in…